American Century Companies Inc. Trims Stock Position in Quidel Co. (NASDAQ:QDEL)

American Century Companies Inc. lowered its position in shares of Quidel Co. (NASDAQ:QDEL) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,036 shares of the company’s stock after selling 736 shares during the quarter. American Century Companies Inc.’s holdings in Quidel were worth $1,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of Quidel by 294.9% in the first quarter. US Bancorp DE now owns 1,465 shares of the company’s stock valued at $187,000 after purchasing an additional 1,094 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Quidel by 42.6% in the first quarter. Envestnet Asset Management Inc. now owns 13,619 shares of the company’s stock valued at $1,742,000 after purchasing an additional 4,070 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Quidel by 683.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 98,931 shares of the company’s stock valued at $12,656,000 after purchasing an additional 86,300 shares during the last quarter. Papp L Roy & Associates purchased a new stake in Quidel during the 1st quarter worth approximately $345,000. Finally, Alliancebernstein L.P. raised its stake in shares of Quidel by 1.4% in the first quarter. Alliancebernstein L.P. now owns 62,558 shares of the company’s stock worth $8,003,000 after purchasing an additional 875 shares during the last quarter. 90.31% of the stock is owned by hedge funds and other institutional investors.

QDEL has been the subject of several research analyst reports. Craig Hallum reduced their price target on shares of Quidel from $296.00 to $219.00 and set a “buy” rating for the company in a research report on Thursday, June 17th. Raymond James increased their target price on Quidel from $141.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. JPMorgan Chase & Co. lowered their target price on shares of Quidel from $90.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, June 4th. Finally, Zacks Investment Research lowered shares of Quidel from a “hold” rating to a “sell” rating in a research note on Wednesday.

Shares of QDEL opened at $146.35 on Wednesday. Quidel Co. has a one year low of $103.31 and a one year high of $288.70. The company has a market capitalization of $6.09 billion, a P/E ratio of 7.09, a P/E/G ratio of 0.81 and a beta of -0.07. The stock has a 50-day moving average price of $131.86 and a 200 day moving average price of $126.63.

Quidel (NASDAQ:QDEL) last released its quarterly earnings data on Thursday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.42). Quidel had a net margin of 48.96% and a return on equity of 73.85%. The company had revenue of $176.61 million for the quarter, compared to analyst estimates of $173.29 million. Sell-side analysts anticipate that Quidel Co. will post 7.35 earnings per share for the current year.

In other news, Director Mary Lake Ph D. Polan sold 6,167 shares of Quidel stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $141.71, for a total value of $873,925.57. Following the transaction, the director now owns 19,987 shares of the company’s stock, valued at approximately $2,832,357.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Quidel Company Profile

Quidel Corp. engages in the development, manufacture and market of rapid diagnostic testing solutions. Its portfolio includes rapid immunoassays, cardiac immunoassays, specialized diagnostic solutions and molecular diagnostic solutions. The firm products are directly sold to end users and distributors and for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, urgent care clinics, universities, retail clinics, pharmacies and wellness screening centers.

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Institutional Ownership by Quarter for Quidel (NASDAQ:QDEL)

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